SailPoint (NASDAQ:SAIL) Earns Neutral Rating from Bank of America

SailPoint (NASDAQ:SAIL)‘s stock had its “neutral” rating reissued by research analysts at Bank of America in a report released on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. Bank of America‘s target price indicates a potential upside of 10.96% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of SailPoint in a research note on Tuesday. Royal Bank Of Canada lifted their price objective on SailPoint from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday. Mizuho set a $16.00 price objective on SailPoint in a research note on Wednesday. Finally, Scotiabank reaffirmed a “sector outperform” rating and issued a $19.00 price objective (up from $16.00) on shares of SailPoint in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SailPoint presently has an average rating of “Moderate Buy” and an average price target of $20.37.

SailPoint Stock Down 2.0%

NASDAQ:SAIL opened at $14.42 on Friday. SailPoint has a 52 week low of $10.30 and a 52 week high of $24.95. The company has a market capitalization of $8.18 billion, a P/E ratio of -53.41 and a beta of 2.02. The stock’s fifty day moving average is $13.75 and its two-hundred day moving average is $15.91.

SailPoint (NASDAQ:SAIL) last posted its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company had revenue of $280.14 million for the quarter. During the same quarter in the prior year, the firm earned $0.01 EPS. SailPoint’s revenue for the quarter was up 21.5% compared to the same quarter last year. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Sell-side analysts anticipate that SailPoint will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Abby Payne sold 16,930 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $194,017.80. Following the completion of the transaction, the insider directly owned 930,506 shares of the company’s stock, valued at $10,663,598.76. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mitra Rezvan sold 7,487 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $20.00, for a total value of $149,740.00. Following the transaction, the chief accounting officer directly owned 189,476 shares of the company’s stock, valued at $3,789,520. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 534,449 shares of company stock valued at $6,569,848. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in SailPoint during the 4th quarter worth $234,681,000. Vanguard Group Inc. grew its stake in SailPoint by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company’s stock worth $117,417,000 after purchasing an additional 219,375 shares in the last quarter. UBS Group AG grew its stake in SailPoint by 116.3% during the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after purchasing an additional 2,219,593 shares in the last quarter. GW&K Investment Management LLC grew its stake in SailPoint by 34.3% during the 3rd quarter. GW&K Investment Management LLC now owns 3,395,602 shares of the company’s stock worth $74,975,000 after purchasing an additional 866,889 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in SailPoint by 51.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock worth $38,339,000 after purchasing an additional 978,376 shares in the last quarter.

SailPoint Company Profile

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.